Institutions Matter in Transition, But So Do Policies

Oleh Havrylyshyn and Ron van Rooden ()
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Oleh Havrylyshyn: International Monetary Fund.
Ron van Rooden: International Monetary Fund.

Comparative Economic Studies, 2003, vol. 45, issue 1, 2-24

Abstract: This paper analyses the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper's main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that progress in achieving macroeconomic stabilisation and implementing broad-based economic reforms remain the key determinants of growth in transition economies. Comparative Economic Studies (2003) 45, 2–24. doi:10.1057/palgrave.ces.8100005

Date: 2003
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